Danish executives cite strong growth.

Denmark is full of surprises. Most recent: Widely held expectations among Danish business executives of unexpected strong growth for 2007. The expectations surfaced in a survey summarized in a posting on the Copenhagen Capacity website on July 11, 2007.

The posting quoted the chief economist of the Danish Confederation of Trade Unions who characterized the position of the economy favorably. "The Danish economy and labour market have the capacity for continuing steady progress," he said. "The results of the survey confirm that Danish companies foresee fair growth in the future."

The survey contacted 773 Danish CEOs to ask them about their estimates of how well the Danish economy would do in 2007. The website posting said that survey results "suggested" Denmark's economy would grow 3.0 percent in 2007. It also said that "Most other economists expect an increase of only approximately 2.0 percent."

The International Monetary Fund (IMF) estimated in April 2007 that Denmark's economy grew 3.3 percent in 2006. The IMF's estimate for 2007 is growth in GDP of 2.5 percent. And for 2008, the IMF says Danish GDP will grow somewhat less at 2.2 percent. Inflation in Denmark has been under control for some time. The annual increase in the rate of inflation has not gone above 2.9 percent in over 10 years.

In 2007, the IMF expects inflation to increase 2.0 percent, and for 2008 it estimates inflation will grow slightly less at 1.9 percent.

The executives participating in the survey held a "strong belief" that there would be substantial growth in jobs. "According to the survey, 46 per cent of Danish CEOs are poised to recruit additional staff in the next 6 months." The IMF forecast for the unemployment rate in Denmark in 2007 is 4.7 percent.